RusHydro sold its shareholding in Trust Gidromontazh
October 15 2013 - 10:21AM
OTC Markets
RusHydro
finalized the sale of its shareholding in Trust
Gidromontazh
JSC
RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces
that it has terminated its participation in a general contractor,
JSC Trust Gidromontazh, following the sale of RusHydro?s
shareholding in the company in the amount of 97,341,002 ordinary
and 29,712,027 preferred shares, equivalent to 31.98% in share
capital, in favor of JSC TEK Mosenergo.
The
disposal of shares was approved by the Company?s Board of Directors
on July 15, 2013 for a total consideration of RUB
1,663,174,970.
JSC Trust
Hydromontazh provides engineering and general contractor services
to power generation companies, including
RusHydro.
About
RusHydro:
RusHydro Group is one of Russia?s largest generating
companies. RusHydro is the leading producer of renewable energy in
Russia with over 70 generating facilities in Russia and abroad. The
company also manages a number of R&D, engineering and
electricity retail companies. Group?s thermal assets are operated
by subsidiary ? RAO Energy System of East in the Far East of
Russia. Total electricity generation capacity of the Group is 36.5
GW, heat capacity ? 16.2 thousand GCal/h.
Russian Federation owns 67.1% in RusHydro, the rest is
held by other institutional and individual shareholders (over
360,000). The company?s stock is traded on the MICEX and RTS stock
exchanges, and included in MSCI EM ? MSCI Russia indexes. Company?s
GDRs in the IOB section of LSE, ADRs ? in OTCQX.
For more
information:
JSC RusHydro, Investor Relations
Department
Tel. +7 (495) 225-3232 ext. 1319,
1607
ir@rushydro.ru
DISCLAIMER
The information in this press release may contain
projections or other forward-looking statements regarding future
events or the future financial performance of RusHydro. One can
identify forward-looking statements by terms such as "expect,"
"believe," "anticipate," "estimate," "intend," "will," "could,"
"may" or "might," the negative of such terms or other similar
expressions. We wish to caution you that these statements are only
predictions and that actual events or results may differ materially
from these statements.
We do not intend to update these statements to reflect
events and circumstances occurring after the date hereof or to
reflect the occurrence of unanticipated events. Many factors could
cause the actual results to differ materially from those contained
in our projections or forward-looking statements, including, among
others, general economic conditions, our competitive environment,
risks associated with operating in Russia and rapid technological
and market changes in our industries, as well as many other risks
specifically related to RusHydro and its
operations.
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